EURUSD
Trading strategy: long at 1.4125, initial stop at 1.4065, objective at 1.4200. Adjust stop to breakeven on +30 pips (at 1.4155) if reached
The euro has gained 150 points on yesterday, reaching the 1.4250 projected target. It is clear enough that it is approaching the 1.4340 top, which may be tested on the coming days – until the month’s end. A monthly close above 1.4185 – 50% retracement of the large decline from 1.6035 to 1.2330 – would be a notable bullish signal, opening 1.4620. On a short-term basis, freshly formed support at 1.4150 should remain intact on a potential pullback, thus keeping the bullish structure intact. Resistance starts at 1.4250, followed by 1.4300 and the yearly top at 1.4340. Current exchange rate is 1.4207 @06:15 GMT
Support levels: 1.4150, 1.4100, 1.4050, 1.4015 and 1.3970
Resistance levels: 1.4250, 1.4300 and 1.4340/50
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: long at 1.4120, initial stop at 1.4060, objective at 1.4200. Adjust stop to breakeven on +30 pips (at 1.4150) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
The break above .8150 has been a false one as the Aussie dollar pulled back to as low as .8110 earlier today. However, the 70 points pullback following the 170 points gain of yesterday is normal, so the upside is likely to remain favored – next objective being seen at .8260. On the lower side, support is seen at .8100/10 backed by .8050. Current exchange rate is .8131 @06:15 GMT
Support levels: .8100/10, .8050 and .8000
Resistance levels: .8150, .8200 and .8250/60
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The 60 points range between 1.5170 and 1.5230 remains intact as the pair continues to trade into the narrow range of 40-50 points / day. Upside is slightly favored but a clear break above 1.5230 is needed to resume uptrend and, hopefully, increase the daily range. Current exchange rate is 1.5197 @06:15 GMT
Support levels: 1.5170, 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5235/50, 1.5300 and 1.5350
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Yesterday trading strategy: stand aside
